“May 13, 2024: Key Updates in the Housing Market – From El Paso Developments to Nationwide Trends”

Welcome to today’s roundup of real estate news, where we delve into the latest developments and insights that are shaping the market. From the El Paso City Council’s decision to hike impact fees for developers, aiming to balance growth and infrastructure costs, to expert advice on building your dream home, and predictions for the 2024 housing market, we’ve got you covered. Whether you’re interested in local construction projects or heartwarming stories of community support for families in need, our coverage provides a comprehensive look at the dynamic world of real estate. Dive into our detailed articles to stay informed and engaged with the latest trends and events.

El Paso City Council approves impact fee hike for developers

After months of debate, the El Paso City Council has voted to increase the fees that home builders – and new home buyers – pay to cover the cost of providing water and sewer service to new neighborhoods. The 28% increase is half of what El Paso Water sought, meaning much of the cost of new infrastructure will continue to be spread among ratepayers citywide. The compromise allows for continued growth within the city limits while ensuring that new development pays for itself. To learn more, click here.

Interview: What you need to know before building a home

The Chippewa Valley Home Builders Association is hosting the popular ‘ABC’s of Home Building’ seminar, perfect for anyone thinking about building a new home or starting the process. The seminar covers topics such as where to start, the steps in the building process, financing options, evaluating land, different construction methods, and more. Expert panelists from the association will provide valuable insights and answer questions. Don’t miss this opportunity to gain valuable knowledge before building your dream home. For more information and registration, visit www.cvhomebuilders.com. Space is limited, so secure your spot now!

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Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? – Forbes Advisor

The housing market is facing challenges in the spring home-buying season due to rising mortgage rates and affordability issues. While sales of newly built homes are thriving, sales of existing homes have stagnated, contributing to the low housing supply. However, experts predict an increase in home sales transactions compared to last year, along with a slower rise in home prices. The market conditions for a housing recovery include higher inventories, cooling mortgage rates, and a gradual improvement in affordability. Despite ongoing hurdles, there is optimism for a better housing market in 2024. To read more about the housing market predictions, click here.

Housing and construction projects in Santa Cruz County – Santa Cruz Local

Stay informed about major housing and construction projects happening in Santa Cruz County. Explore updates on water and highway projects, as well as various housing and construction initiatives. Discover how you can make your voice heard and stay engaged with the local community. To learn more, visit Santa Cruz Local.

New home marks a life-changing gift for Fort Myers family in need | WGCU PBS & NPR for Southwest Florida

When Myrtle Dillard and her family watched their old, deteriorating home being torn down, they didn’t know what to expect. However, the reveal of their new home by Lee BIA Builders Care and Stevens Construction brought them immense joy and gratitude. The 60-day project was a response to the Dillard family’s challenges, including accessibility issues and the recent loss of Myrtle’s husband. The new 1,347-square-foot home with three bedrooms and two bathrooms provides a safe and comfortable living space. Community partners and donors contributed furniture, appliances, and essential supplies. This heartwarming project showcases the generosity and support within the community. To read more about this life-changing gift, click here.